Tribute Gifts: Your Search for the Perfect Gift Is Over

We all have one: a box in the attic or closet where we put gifts from loved ones that don’t quite match our needs or styles. It’s the “re-gift” stash.

This year, you can make sure that your gifts to loved ones stay out of their re-gift box simply by rethinking what you give to those closest to you.

As you celebrate birthdays, anniversaries and other special occasions with friends and family this year, take a moment to reflect on what’s truly important to your loved ones. If that person values the important work we do at Focus: HOPE, consider making a gift in his or her honor.

A tribute gift can make your loved one feel special because you are celebrating and supporting a cause that’s important in his or her life. Plus, you don’t run the risk of giving a gift that someone neither wants nor needs.

Talking with your loved ones about your charitable intentions is a great way to get them to open up about the causes and organizations that are important in their lives. These conversations can make your gift even more meaningful because you truly understand why a cause is so important to someone special to you.

Keep a Loved One’s Memory Alive

If you’ve recently lost someone close to you, celebrating a special occasion this year might be bittersweet as you think about a loved one who isn’t part of the festivities. If our work was important to your loved one, a gift to Focus: HOPE in his or her memory can be a meaningful way to make that special person part of your celebrations.

Give From the Heart

To learn more about gifts that will truly touch your loved ones, contact Rebecca Wenglinski at 313-494-4369 or today.

A charitable bequest is one or two sentences in your will or living trust that leave to Focus: HOPE a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Focus: HOPE, a nonprofit corporation currently located at 1355 Oakman Blvd. Detroit, Michigan 48238, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Focus: HOPE or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Focus: HOPE as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Focus: HOPE as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Focus: HOPE where you agree to make a gift to Focus: HOPE and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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